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LSDefine

Simple English definitions for legal terms

community estate

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A quick definition of community estate:

A community estate is all the things that a married couple owns together in a community-property state. This includes everything they own and owe together.

A more thorough explanation:

A community estate refers to the total assets and debts that are owned in common by a married couple in a community-property state. This means that any property or debt acquired during the marriage is considered jointly owned by both spouses.

For example, if a couple in a community-property state buys a house together during their marriage, the house would be considered part of their community estate. Similarly, if they take out a joint loan, the debt would also be part of their community estate.

Another example would be if one spouse owns a business and the other spouse contributes to the business during the marriage, the business would be considered part of their community estate.

Overall, a community estate is a legal concept that recognizes the joint ownership of property and debt between married couples in certain states.

communitization | community grant

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[] c0bra1
17:50
after much deliberation
very slay
Can I ask why no W&L, as a person who is prob gonna deposit W&L?
[] c0bra1
17:57
i am scared of lexington
[] c0bra1
17:57
i dont like small town vibes
[] c0bra1
17:57
also i couldnt find detailed info on their actual courses or curriculum
Incredibly real and relatable
[] c0bra1
18:02
yeah cost is not issue for me so i am deciding on vibes and area of interest mostly
PopSmoke
18:03
Im debating whether or not I should’ve deposited at w&l after these new Aba reports
PopSmoke
18:03
They just sent 40% of their class to BL
I checked out W&L earlier this year - Lexington, VA i& the surrounding area is interesting for sure
but again, that's my perspective as a native New Yorker, I personally couldn't do it
starfishies
18:26
underrated school imo but I’ve gushed about them here enough 🤧
[] c0bra1
18:33
if they had more info on their ip law stuff i might've deposited there but i couldn't find much
[] c0bra1
18:35
lexington was the major turn off though i think i would go insane if i lived in a town that was like 4 streets long 💀
c0bra, that's what im saying... i was like hunny what is dis........
put your shoes on lets go find u a HOME
I'm from buttfuck midwest I will survive
Also @starfishies I would talk to u more about w&l if u wanted :)
[] c0bra1
18:41
you got a nice scholarship too @JupitersMoons
yeah, money talks and we broke as hell over here
starfishies
18:44
ill never pass up the opportunity
starfishies
18:44
guys W&L would’ve been my vibes pick
starfishies
18:45
Lexington = lock-in-ton
starfishies
18:45
get that gpa get that job get that money get out
that's the goallllll
also their Big Law % is High and places a ton in NYC and DC so like if u want NYC/DC then....
My cycle is officially OVER
we done, boysssss
[] c0bra1
20:04
@IrishDinosaur: congrats
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